Coinmarket.io has stolen all the BTC how would you deal with this?

[TamiLee]

https://bitcointalk.org/index.php?topic=454186.3080

It's sad but true, the anonymous owner of coinmarket.io has scammed everyone on that exchange for there btc. They have allowed some alt coins to be withdrawn but no one has had the btc returned yet.

The name of the person who hosts the site is from Norway but has not given up the exchange owners details yet.

Name: Kenneth Bjorke
Birthdate: 1st July (1984?)
Predicted Age: 29
Street : Knapstadveien 6F
City : Knapstad
State : Ostfold
Country: Norway
Postal Code : 1823
Occupation: Senior IT Operations and Infrastructure, at Fred Olsen (April 2011 - Present)
Work Email: kenneth.bjorke@fredolsen.no
Twitter: https://twitter.com/kbjoerke
LinkedIn: http://no.linkedin.com/in/kbjoerke
Facebook: https://www.facebook.com/profile.php?id=100001666663558

There is 2 ways this can be handled, illegally [mod note: I really don't want to be a censor but you should find a different place for discussions if you're into stuff like that] or by going the legal route, unfortunately both ways will result in not getting our bitcoins back but
I think it's time a example gets set for scam exchanges that will have a major impact on the future of Crypto currencies, lets be honest here how many more GOX's can btc handle before it's
too late and people lose complete faith?

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[KenChanYu]

I think the point of no return has been reached, they definitely have stolen the bitcoins and keeping the site alive to try get more btc deposits from those who don't follow the forums.

I have followed my own live btc wallet for coinmarket.io and it has been moved around to many different wallets and split, so btc is stolen and this was after the problems took place as I transferred
some btc by mistake, so they can't blame hackers.

Regarding your options it doesn't have to be so cut and dry, send a debt collector or private investigator to find this person and there is a chance the btc will get returned. The major problem
is more cases like this that keep coming up the closer we will get to regulation but I think regulation is the only way as there is plenty scum like this exchange owner that will
take advantage.

[serje]

If we hire a hit man* for this guy and we use escrow I'm in!


We have to give an example!


hit man =  a person that makes hits! Just like this one http://www.youtube.com/watch?v=K2ku1A5Ox8U


I hope you weren't thinking about a hit man in other ways around!

[serje]

well if that guy stole the BTC he has a bad taste at women!!!!


he is spending your BTC with this girl https://www.facebook.com/babyevelyn.andrade


I don't say she is ugly but with all that BTC he could get a top model in his bed!


P.S. Yeah I'm alone!

[Bluestreet]

I agree with Kenchanyu, our bitcoins are definitely stolen. What a shame for virtual currencies...

[EventualCoinMillionaire]

I find it odd that the Twitter link on OP goes to a Twitter post from this so called thief and on that post, he links to some dinkypage claiming he isn't who everyone claims him to be. In that he shows a Skype conversation this his family is threatened, and yet STILL anon's the supposed Coinmarket owner.

Very strange indeed.

http://www.dinkypage.com/1251626

[yottahash]

That is odd, but I seriously think Kenneth is a good guy who is being used by the owner of Coinmarket.io.

Whoever it is, they're letting Kenneth get hit hard by all the users who've had coins stuck / lost / scammed. Poor form.

I personally suspect the owner isn't based in Norway but close by (e.g. Germany, Netherlands).

Kenneth - release the real owner's details and be done with them!

[Gravity]

User just posted proof of bitcoins been stolen

CoinMarket.io status update

1. What happened?

We got exploited. Somewhat. The majority of coins were saved by cold storage and a quick reaction.
A couple of users abused a bug in the trading engine allowing them to create coins (increase balance) out of nothing.
Do you remember the day when KARM/BTC 24h volume was 400+ out of the blue? That volume came from those malicious users trading.
When we noticed the problem, we stopped all trading to investigate the situation.
Unfortunately, we failed to find the bug fast enough to resume normal operation and cover the losses from fees.
The new trading engine (rewritten) still suffers from this unknown-to-us issue, this is why we have not resumed any trading.
Meanwhile, we allowed all withdrawals to happen - because it was the right thing to do.
Because of high withdrawal volumes, the wallets ran out of normal unspent inputs and started to combine too many small inputs for withdrawals.
There is a limit of inputs/outputs in a cryptocurrency transaction.
If the wallet software (the official stuff that everybody uses) chooses or attepts to choose too many inputs,
the transaction will fail with "Transaction too large" or "Transaction creation failed" error.
It has nothing to do with insufficent balance. This problem was caused by miners who mined directly to the deposit address, creating tens of thousands of small inputs.
The default algo for choosing transaction inputs (coin selection) is not designed for exchanges. We need to create some code that does some raw transaction magic.
Also, some coins have landed on an invalid fork - because we were too busy with other issues. We will update all coindaemons tonight.
Everything has taken too much time because multiple problems hit us at the same time and debugging the situation was not so simple.

2. What is the solution? What are you doing now?

We have manually processed some withdrawals, but that process is too slow.
An automatic script will be running tomorrow - it will hopefully process the stuck withdrawals.
If your withdrawal status changes to "manual", it means that we manually processed it.
If your withdrawal status changes to "fixed", it means that the automatic routine processed it.
We will publish statistics when avalible - after the script runs.

Please stop any accusations and threats against Kenneth Bjørke - he is just hosting the web servers.
The hosting of coinmarket.io by Kenneth will be terminated when the dust settles and all possible withdrawals are processed.

We will be posting lists of withdrawals that got fixed.
We are deeply sorry for the inconvenience this may have caused to you.
More detailed information coming after the automatic process runs.

quoting people to see

Why the AUTOMATED SCRIPT is Bullshit in the case of bitcoins!

https://blockchain.info/  <-- Put your live coinmarket.io bitcoin wallet address in there, 90% of you will find your bitcoins have been moved around from wallet to wallet. The bitcoins have been stolen by the exchange, no question about it, we got fucked so hard here.

[Addie]

I think they lost a lot of money due to a bug in their system, where the user could withdraw twice, so they had no other option but to run with the money they had left.

[yottahash]

I think they lost a lot of money due to a bug in their system, where the user could withdraw twice, so they had no other option but to run with the money they had left.

Starting to look that way. Been following coinmarket BTC deposits through  multiple transactions, eventually coming across these two final unspent destinations:

43,222 BTC: https://blockchain.info/address/14e7XAZbepQp9MXXzjNG3fNLoAUpaBAXHW

43,250 BTC: https://blockchain.info/address/1PnMfRF2enSZnR6JSexxBHuQnxG8Vo5FVK

I don't think coinmarket could have possibly have controlled around 100k BTC.

Could these addresses be on another exchange now?
Did someone gamble deposits away?
Did coinmarket get hacked, with the bitcoin ending up in some giant piles of stolen coin?

[rizardus]

meaby admin can give us ip of his account? i need it to add this to lawsuit

[Msile]

Don't point your fingers to quickly.

[niothor]

Oh yeah , another hack , people start to learn how to run a successful business.

[Bit_Happy]

Oh yeah , another hack , people start to learn how to run a successful business.

Yes, the story is too old now; Time for something better.